HUL to offer grants to Indian startups working on plastic waste solutions

New Delhi: Consumer packaged goods company Hindustan Unilever Limited (HUL) on Tuesday announced the launch of a program that will provide grants and mentorship to Indian tech startups working in the field of plastic waste management and circularity .

The Transform Plastics Challenge is a joint initiative between Unilever, the UK Foreign, Commonwealth and Development Office (FCDO) and EY, in collaboration with Social Alpha.

Under the program, five Indian start-ups will receive up to 1.6 crore each through grant funding and equity investments, as well as mentorship and support to scale their business.

The Transform Plastics Challenge will identify start-ups working on the development of technological solutions for the treatment of plastic waste, economically viable reuse or refill models, as well as innovations in materials or substrates that make packaging recyclable or compostable.

The program will invite applications from start-ups that are already creating innovative and scalable solutions to tackle plastic waste management.

“True to the spirit of Transform, we intend to help accelerate Indian start-ups in building and scaling solutions with the potential for global adoption. We are excited to work with Social Alpha to help empower the next generation of start-ups that will lead the way to a waste-free world,” said Deepak Subramanian, Executive Director, Home Care, HUL and Managing Director, Home Care South Asia . .

HUL clarified its commitment to collect and process more plastic than it sells, and to use 100% reusable, recyclable or compostable plastic packaging, by 2025. In 2021, HUL met its collection goal and processing, four years ahead of schedule, the maker of Dove soaps and Knorr soups.

“Entrepreneurship fueled by innovation has enormous potential to solve the problem of plastic waste and create impact through new material innovations, material recycling, complete redesign of packaging and perhaps more fundamental to delivering to the end customer,” said Smita Rakesh, Vice President and Partner, Social Alpha.

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